Hey Boyce,
I copied the release regarding the upgrade so you can read it. Boyce, the only mention to revenue is she feels it will double in the next twelve months. She speaks highly of the management calling it the brightest and most talented in the field. Good Luck.
Tuesday September 23 10:18 AM EDT
Company Press Release
Robertson Stephens Initiates Coverage of Affymetrix with a Buy Rating
SAN FRANCISCO, Sept. 23 /PRNewswire/ -- Robertson, Stephens & Company
research analyst Elizabeth Silverman initiated coverage today of
Affymetrix (AFFX) with a Buy rating.
``Affymetrix is one of the highest quality companies in the rapidly
expanding field of DNA array technology,'' said Silverman. ``The company
is well positioned to identify and dominate a wide variety of lucrative
markets.''
Affymetrix invented, designed and produced GeneChips -- one of the most
innovative new tools used in genomics. Genomics, or the study of an
organism's DNA, promises to revolutionize the way in which drugs are
discovered and developed, the way in which patients are diagnosed and
treated, as well as increase the speed with which commercially useful
plants and animals are utilized.
The genomics revolution will be vastly accelerated by the use of new
tools -- such as GeneChips -- which are capable of rapidly analyzing
large amounts of DNA in an efficient, user-friendly format. Affymetrix'
GeneChips contain high density arrays of short fragments of DNA that can
be used to determine the identity or sequence of unknown pieces of DNA.
GeneChips are applicable to a wide variety of genomics applications, all
of which are in their infancy. As these markets develop, Silverman
believes that GeneChips will play a dominant role due to the utility and
flexibility of the technology, the technical and commercial lead enjoyed
by Affymetrix and the aggressive business development strategy of the
company's forward-looking management. Silverman touted Affymetrix'
management team as one of the brightest, most strategic and talented in
the industry.
Silverman's 12-month price target for the stock is $80 based on an
expectation that revenues will double in 12 months, the signing of new
corporate alliances and the introduction of a range of innovative new
products. ``We expect to see Affymetrix at the forefront of developments
in the fast-growing genomics field and believe the company represents a
key holding in any biotechnology portfolio,'' Silverman said.
Robertson, Stephens & Company is a leading international investment
banking firm focused on emerging growth companies. The firm's 44 senior
research analysts cover over 500 companies.
The information contained herein is not a complete analysis of every
material fact respecting any company, industry or security. Although
opinions and estimates expressed herein reflect the current judgment of
the Firm, the information upon which such opinions and estimates are
based is not necessarily updated on a regular basis; when they are, the
date of the change in estimate will be noted. In addition, opinions and
estimates are subject to change without notice. This Report contains
forward-looking statements which involve risks and uncertainties. The
Company's actual results may differ significantly from the results
described in the forward-looking statements. Factors that might cause
such a difference include, but are not limited to, those discussed in
``Investment Risks.'' Robertson, Stephens & Company LLC, from time to
time performs corporate finance services for some companies described
herein and may occasionally possess material, nonpublic information
regarding such companies. This information is not used in the
preparation of the opinions and estimates herein. Facts and other
information discussed have been obtained from sources considered
reliable but are not guaranteed. Robertson, Stephens & Company LLC, its
managing directors, its affiliates, and/or its employees may have an
interest in the securities of the issue(s) described and may make
purchases or sales while this report is in circulation. Robertson,
Stephens & Company LLC is regulated by the Securities and Futures
Authority in the United Kingdom. This publication is not meant for
private customers.
SOURCE Robertson, Stephens & Company
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